Needham analyst James Ricchiuti lowered the firm’s price target on Universal Display (OLED) to $215 from $242 but keeps a Buy rating on the shares after its Q3 results and FY24 guidance cut. The change in tone is consistent with overall caution on smartphone and tablet sales over the near term, though while the company’s blue emissive materials may not be a meaningful contributor in 2025, positive news on the commercial development front could be a catalyst for the stock, the analyst tells investors in a research note.
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Read More on OLED:
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